Solana (SOL) is facing a tough time, and things aren’t looking great. Experts say that if it breaks key support levels, the price could drop to $125. Not long ago, SOL was cruising above $250, but now it’s struggling to stay stable.
SOL has dropped to $169.19, down 4.69% in the past 24 hours. It has slipped below the crucial $170 support level, a worrying sign for investors. After dropping this much, SOL has finally risen to $172.
Adding to the pressure, FTX’s bankruptcy proceedings will soon release 11.2 million SOL (about $9.7 million worth) into the market, increasing selling pressure at a time when demand is already weak.
On top of that, another $1.6 billion worth of SOL is set to unlock in March, further increasing downside risks if demand fails to keep up. If buyers don’t step up, it’s going to be a rough ride.
From a technical perspective, things aren’t looking much better. SOL is stuck in a downward channel, meaning sellers are still in control. The next big support level is $160, and if it holds, there’s a chance for a rebound to $180–$185. But if it breaks, the $150–$155 range could come into play. A slide to $125–$130, which is a historically strong support zone, but also a painful drop from current levels.
Investor confidence isn’t just shaken by the price drop, recent scams like $LIBRA, $TRUMP, and $MELANIA rug pulls have only made things worse. With trust in the ecosystem taking a hit, traders are being more cautious, and that uncertainty is clearly reflected in the market.
If buyers start showing interest around $160, Solana could rebound to $180 or even higher. But if selling pressure keeps up and it drops below $160, we might be looking at a fall to $125. With big token unlocks coming up and market sentiment already shaky, everyone’s watching to see if Solana can hold its ground or if more losses are on the way.
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